PPP Loan Data — Smiley Face Beauty Center LLC, Matteson, IL
Smiley Face Beauty Center LLC is a limited liability company (LLC) located at 600 Holiday Plaza Drive 530 in Matteson, Illinois that received a Coronavirus-related PPP loan from the SBA of $46,155.00 in May, 2020.
The company has reported itself as a Black or african american male owned business, and employed at least ten people during the applicable loan loan period.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Lender:Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc.
Smiley Face Beauty Center LLC in Matteson, IL received a Paycheck Protection Loan of $46,155 through Transportation Alliance Bank, Inc. d/b/a TAB Bank, Inc., which was approved in May, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in February, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Smiley Face Beauty Center LLC's 2019 payroll expenses are estimated to be at least $221,544.
Based on their reported 10 jobs retained, this equals an estimated average yearly compensation of $22,154 per employee1
Reported PPP Proceed Usage:
On the PPP application, Smiley Face Beauty Center LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,155
Business Information - Smiley Face Beauty Center LLC in Matteson, IL
600 Holiday Plaza Drive 530
Matteson, IL 60443
Other Computer Related Services
NAICS code 541519
Business Owner Demographics
Race: Black or African American
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Matteson
In the Matteson area, 10 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 2 employees (compared to this company's 10) and received an average PPP loan of $18,991 (compared to this company's $46,155).
Similar Nearby Businesses Who Received PPP Funding:
The Computer Mechanic Inc
Just Right Security Consultants
Industry PPP Comparison Statistics
Nationwide, 25,371 businesses in the "Other Computer Related Services" industry received a total of $3.1B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 8 employees, 20% lower than Smiley Face Beauty Center LLC's reported 10 employees, and received an average PPP loan of $122,066, 164% higher than this company's loan of $46,155.
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Footnotes & Information
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